G7 losing ground in global economy, BRICS drives over half of growth — Kremlin official
"If you look at the global GDP structure, China is the leading economy by a wide margin, India has risen to third place, and Russia and Japan share fourth and fifth places," Maxim Oreshkin, Deputy Chief of Staff of the Russian Presidential Executive Office, said
YEKATERINBURG, September 15. /TASS/. G7 nations are losing their positions in the global economy, while the BRICS bloc accounts for more than half of economic growth, Maxim Oreshkin, Deputy Chief of Staff of the Russian Presidential Executive Office, said. He was speaking at the "World of the Future: What Will We Create?" session during the International Youth Festival.
"If you look at the global GDP structure, China is the leading economy by a wide margin, India has risen to third place, and Russia and Japan share fourth and fifth places. G7 countries are step-by-step losing their positions in the global economy, whereas BRICS nations are rising, and each year more than half of economic growth comes from BRICS countries," Oreshkin said.
The International Youth Festival is running in Yekaterinburg from September 11 to 17 under the motto "Follow Your Dream." The event is expected to attract 10,000 young leaders from 191 countries, split equally between Russia and foreign nations. The program also includes 1,000 teenagers aged 14 to 17. TASS is the general media partner for the event.